Does the Treasury Department consider the Home Affordable Modification Program a success?



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    The Treasury Department has been quoted saying positive things about the program.  In mid May, Secretary Tim Geithner stated, “In just over two months, the Make Home Affordable program is up and running, helping our economy recover and making a difference in the lives and livelihoods of thousands of American homeowners.”  However, since then, less than 1% of homeowners eligible for foreclosure have gotten help from the plan.  The Treasury is keeping it’s chin up on the project, stating that 700,000 trial modifications are underway, but that “the pace of getting those homeowners into permanent modifications still needs to quicken” (Spangler – Free Press Washington).

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